Mizuho Lowers CarMax (NYSE:KMX) Price Target to $78.00

CarMax (NYSE:KMX) had its price objective dropped by analysts at Mizuho from $80.00 to $78.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s target price indicates a potential upside of 11.53% from the stock’s previous close.

Several other brokerages also recently issued reports on KMX. Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of CarMax in a report on Wednesday, June 18th. Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, March 26th. Robert W. Baird dropped their price target on CarMax from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. dropped their price target on CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, March 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $92.00 price objective on shares of CarMax in a research note on Monday, June 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CarMax currently has an average rating of “Moderate Buy” and an average price target of $84.45.

CarMax Price Performance

CarMax stock opened at $69.94 on Thursday. The stock’s 50 day moving average is $66.28 and its 200 day moving average is $74.29. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. The firm has a market cap of $10.50 billion, a P/E ratio of 19.32, a P/E/G ratio of 1.15 and a beta of 1.38. CarMax has a one year low of $61.34 and a one year high of $91.25.

CarMax (NYSE:KMX) last issued its earnings results on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.20. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.58 billion. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. As a group, research analysts expect that CarMax will post 3.23 EPS for the current year.

Insider Buying and Selling at CarMax

In related news, Director Mitchell D. Steenrod bought 1,300 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were bought at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the transaction, the director owned 33,577 shares of the company’s stock, valued at approximately $2,198,957.73. This trade represents a 4.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jon G. Daniels sold 1,540 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of the transaction, the executive vice president owned 2,779 shares in the company, valued at $196,308.56. The trade was a 35.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CarMax

Large investors have recently made changes to their positions in the company. Zions Bancorporation National Association UT purchased a new position in shares of CarMax during the first quarter valued at approximately $27,000. Accent Capital Management LLC purchased a new stake in CarMax during the first quarter worth $34,000. Strengthening Families & Communities LLC lifted its holdings in CarMax by 93.1% during the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock worth $39,000 after buying an additional 256 shares during the period. Ameriflex Group Inc. purchased a new stake in CarMax during the fourth quarter worth $53,000. Finally, Quarry LP increased its position in shares of CarMax by 50.5% during the first quarter. Quarry LP now owns 694 shares of the company’s stock worth $54,000 after purchasing an additional 233 shares in the last quarter.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.